China To Cancel 23 Loans Owed By 17 African Countries

Africa | Rest Of The World August 23, 2022

China will cancel 23 interest free loans owed to it by some 17 African countries. Furthermore, the world’s second biggest economy will redirect $10 billion of its International Monetary Fund reserves to African countries. That was announced by the country’s foreign affairs minister during a recent China-Africa Forum, according to a post on the foreign affairs ministry’s website.

No further details were given.